Japan and the Asian Monetary Fund: An Identity–Intention Approach.

Why did Japan propose the creation of the Asian Monetary Fund (AMF) that intentionally excluded the United States from membership in the middle of the Asian financial crisis? I argue that the immediate cause of Japan's AMF proposal lies in Japan's interest in defending the Asian model of economic de...

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Publicado en:International Studies Quarterly Vol. 50; no. 2; pp. 339 - 367
Autor principal: YONG WOOK LEE
Formato: Artículo
Publicado: Oxford University Press / USA Jun2006
Materias:
Acceso en línea:Ver este registro en EBSCOhost
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        au: YONG WOOK LEE
        affil: Brown University
      su:
        Finance
        Economic development
        Financial crises
        Japan
        United States
        Thailand
      sug:
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          Japan
          United States
          Thailand
          Finance
          Economic development
          Financial crises
      ab: Why did Japan propose the creation of the Asian Monetary Fund (AMF) that intentionally excluded the United States from membership in the middle of the Asian financial crisis? I argue that the immediate cause of Japan's AMF proposal lies in Japan's interest in defending the Asian model of economic development against the U.S.-led IMF bailout operation in Thailand. The exclusion of the United States was the key in realizing such an interest. Following an identity approach to international relations, I will demonstrate how Japan's Ministry of Finance (MOF) officials' conception of Japan and the United States as the two rivals promoting different models of economic development (i.e., Japan's state-led vs the U.S. market-based economic development) contributed to the making of Japan's AMF proposal. In doing so, I theoretically develop an identity–intention analytical framework designed to establish causation between an identity and a policy choice that emerge from a social, interactive structure. The framework offers a better way of dealing with the overdetermination of given interests as well as the underspecification of the kinds of interests at stake to which rational theorizing of international relations is often vulnerable.
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    language: English
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